Rubicon Water (ASX:RWL) Operating Income: A$-10.21 Mil (TTM As of Dec. 2025)


What is Rubicon Water Operating Income?

Rubicon Water ASX:RWL -3.17% Operating Income is A$-10.21 Mil as of Dec. 2025. The stock has 2 warning signs investors should review.

Rubicon Water's Operating Income for the six months ended in Dec. 2025 was A$-7.65 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2025 was A$-10.21 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Rubicon Water's Operating Income for the six months ended in Dec. 2025 was A$-7.65 Mil. Rubicon Water's Revenue for the six months ended in Dec. 2025 was A$29.02 Mil. Therefore, Rubicon Water's Operating Margin % for the quarter that ended in Dec. 2025 was -26.35%.

Rubicon Water's 5-Year average Growth Rate for Operating Margin % was 0.00% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Rubicon Water's annualized ROC % for the quarter that ended in Dec. 2025 was -12.32%. Rubicon Water's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was -25.26%.

Rubicon Water  (ASX:RWL) Operating Income Explanation

1. Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Rubicon Water's annualized ROC % for the quarter that ended in Dec. 2025 is calculated as:

ROC % (Q: Dec. 2025 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Jun. 2025 ) + Invested Capital (Q: Dec. 2025 ))/ count )
=-15.292 * ( 1 - 28.12% )/( (88.898 + 89.482)/ 2 )
=-10.9918896/89.19
=-12.32 %

where

Invested Capital(Q: Jun. 2025 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=103.936 - 9.528 - ( 5.51 - max(0, 34.823 - 75.647+5.51))
=88.898

Invested Capital(Q: Dec. 2025 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=101.174 - 8.928 - ( 2.764 - max(0, 40.387 - 69.222+2.764))
=89.482

Note: The Operating Income data used here is two times the semi-annual (Dec. 2025) data.

2. Joel Greenblatt's definition of Return on Capital:

Rubicon Water's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 is calculated as:

ROC (Joel Greenblatt) %(Q: Dec. 2025 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Jun. 2025  Q: Dec. 2025
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=-15.782/( ( (8.879 + max(57.966, 0)) + (9.167 + max(48.934, 0)) )/ 2 )
=-15.782/( ( 66.845 + 58.101 )/ 2 )
=-15.782/62.473
=-25.26 %

where Working Capital is:

Working Capital(Q: Jun. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(27.484 + 19.807 + 27.114) - (9.528 + 2.007 + 4.904)
=57.966

Working Capital(Q: Dec. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(21.372 + 19.888 + 25.198) - (8.928 + 0.551 + 8.045)
=48.934

When net working capital is negative, 0 is used.

Note: The EBIT data used here is two times the semi-annual (Dec. 2025) EBIT data.

3. Operating Income is also linked to Operating Margin %:

Rubicon Water's Operating Margin % for the quarter that ended in Dec. 2025 is calculated as:

Operating Margin %=Operating Income (Q: Dec. 2025 )/Revenue (Q: Dec. 2025 )
=-7.646/29.022
=-26.35 %

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

4. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Operating Income growth rate using Operating Income per share data.

Be Aware

Compared with a company's EBITDA margin, Operating Margin can be manipulated by adjusting the rate of depreciation, depletion and amortization (DDA).

If a company is facing competition, its Operating Margin may decline. Often the Operating Margin declines well before the company's revenue or even profit decline. Therefore, Operating Margin is a very important indicator of whether the company is facing problems.

For instance, by 2012, Nokia (NOK)'s problems were well known and its stock had lost more than 90% of its market value since 2007. But Nokia's Operating Margin had already been in decline since 2002, although its earnings per share were still rising. Investors who paid attention to Operating Margin would have avoided this huge loss. The same can be said for Research-in-Motion (RIMM).

Therefore, Operating Margin is a very important screening filter for GuruFocus. GuruFocus's Buffett-Munger screener requires that the profit margin is either consistent or expanding. The Model Portfolio of the Buffett-Munger screener has outperformed the market every year since inception in 2009.

Rubicon Water Operating Income Related Terms

Rubicon Water Operating Income Historical Data

* Premium members only.

The historical data trend for Rubicon Water's Operating Income can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Rubicon Water Operating Income Chart

Rubicon Water Annual Data
Trend Jun22 Jun23 Jun24 Jun25
Operating Income
-1.96 -10.66 -7.50 -5.38

Rubicon Water Semi-Annual Data
Dec20 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25
Operating Income Get a 7-Day Free Trial Premium Member Only Premium Member Only -1.73 -5.77 -2.82 -2.56 -7.65

Rubicon Water Operating Income Calculation

Operating Income, is the profit a company earned through operations. All expenses, including cash expenses such as cost of goods sold (COGS), research & development, wages, and non-cash expenses, such as depreciation, depletion and amortization, have been deducted from the sales.

Operating Income for the trailing twelve months (TTM) ended in Dec. 2025 adds up the semi-annually data reported by the company within the most recent 12 months, which was A$-10.21 Mil.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Frequently Asked Questions Learn more about Operating Income →
What does a Operating Income of A$-10.21 Mil mean?
Rubicon Water (ASX:RWL) has a Operating Income of A$-10.21 Mil as of Dec. 2025. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Rubicon Water and its competitors.
Is Rubicon Water's Operating Income too high?
Rubicon Water's current Operating Income is A$-10.21 Mil.
How does Rubicon Water's Operating Income compare to AWK and WTRG?
Rubicon Water's Operating Income of A$-10.21 Mil can be compared against companies in the Utilities - Regulated industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Operating Income for an Utilities - Regulated company?
A good Operating Income depends on the Utilities - Regulated industry context. However, Operating Income should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Operating Income mean?
A high Operating Income can signal that a stock is expensive relative to its fundamentals. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Rubicon Water and its competitors. Rubicon Water's current Operating Income is A$-10.21 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Rubicon Water stock overvalued right now?
Based on GuruFocus' analysis, Rubicon Water (ASX:RWL) is currently considered Possible Value Trap. The stock's GF Value™ is A$0.30, compared to a current price of A$0.06 — trading 79.7% below its estimated fair value. The current Operating Income is A$-10.21 Mil. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Operating Income calculated?
Operating Income is calculated from a company's financial statements. For Rubicon Water (ASX:RWL), the current Operating Income is A$-10.21 Mil as of Dec. 2025. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Rubicon Water Business Description

Address 1 Cato Street, Hawthorn East, Melbourne, VIC, AUS, 3123
Rubicon Water Ltd is engaged in the water technology solutions business that designs, manufactures, installs, and maintains irrigation automation software and hardware. It generates revenue through sales of hardware, software, and services, as well as from ongoing maintenance of the installed end-to-end solution base.